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GM posts $6B Q1 loss, burns $10.2B in cash

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posted on May, 9 2009 @ 06:47 PM
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GM posts $6B Q1 loss, burns $10.2B in cash


www.usatoday.com

Young said GM will also have a tough second quarter, because many of its plants will be closed for several weeks to help cut dealer inventories. GM books revenue when cars are produced, not when they are sold at the dealership
(visit the link for the full news article)

Mod Edit: Review This Link: Instructions for the Breaking News Forums: Copy The Exact Headline

[edit on 5/10/2009 by semperfortis]




posted on May, 9 2009 @ 06:48 PM
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If G.M claim to have lost 6 Billion Dollars in the First Quarter of this year, but calculate their revenue when cars are produced and not sold. I can Guarentee that their losses are a lot greater than they are saying.

I cannot understand how ANY stock listed company, or any company for that matter can book revenue when their product is made but not sold.

To me this is conspiracy to commit fraud. So what if they make a million cars this month but they all lying in open fields or car parks waiting to go somewhere. They'll stand before their shareholders telling them how profitable they are when in fact they might have only sold 100,000 of the Million they have made.

The G.M Board, Accountants and Auditors, who know about this should all be arrested.


www.usatoday.com
(visit the link for the full news article)

[edit on 5/10/2009 by semperfortis]



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